Reliance Jio has kicked off its JioPhone Monsoon Hungama offer, which, brings some cash back and exchange offers for the JioPhone.

Under the offer, you can basically get a new JioPhone for Rs 501, if you exchange an old feature phone for it. The Rs 501 that you pay up front is a refundable security deposit that you can claim three years after the purchase. However, since there are no free lunches, here are a few things you should know before head to claim the offer.

To begin with, to be eligible for the exchange offer, you need to take an old feature phone to the retailers, which is in a working condition and must be purchased after 1 January 2015. It can be any of your old 2G/3G/4G (non-VOLTE) feature phones. And it must necessarily be accompanied with a charger and a battery.

JioPhone

Once the retailer passes your old phone to be eligible for the offer, you need to get a Rs 594 recharge done on the device to activate the entire deal. In this Rs 594, you will get unlimited voice and data for the next six months. There is also a special exchange bonus of 6 GB data, which means, with the 84 GB data already on offer in the Rs 594 plan, the exchange bonus takes up the total data you get to 90 GB for six months.

Another condition that comes here is that when you get the JioPhone, you will also need to get a new Jio SIM. Even if you are an existing Jio subscriber, you can’t just replace your old SIM to the new JioPhone. You need to start with a new SIM on the new JioPhone with a recharge of Rs 594.

In case you have a number from some other network operator and wish to retain your old number, you will need to have your number ported to Jio first, and then you can go for the Monsoon Dhamaka offer.

In addition to that, till now there were two JioPhone plans, that is Rs 49 and Rs 153. With the Monsoon Dhamaka offer, Jio has also added a Rs 99 plan, which offers unlimited free voice and 0.5 GB data per day and 300 SMS, for a validity of 28 days.

For users who do not want to go for the exchange offer, they can buy the JioPhone at the old Rs 1,500 offer, which will be essentially a deposit, that will be refunded to users after three years of the phone’s purchase. In Rs 1,500 offer, however, users will not be able to avail the Rs 99 recharge plan.